The sport of bicycling has become increasingly popular in recent years. Much of the growth in popularity has been attributed to specialized bikes which have been optimized for a specific terrain, namely light weight road racing bikes and off road or "mountain" bikes. In fact, many riders now own more than one bicycle, namely one for road use and another for off-road use. These specialized bikes are generally transported by automobile to locations having the optimal terrain. For example, riders will transport their road bikes to the starting point of a race course or to meet other riders at the start of a group ride. Riders will transport their mountain bikes to a National Forest or other appropriate site for off road riding.
Today's relatively small cars have made it difficult if not impossible to carry one, much less two or more, bicycles inside the vehicle. Accordingly, today many types of bicycle racks or carriers are available which are designed to enable riders to transport their bikes secured on the outside of their cars. Examples of such bike racks are those available from Thule (R), Yakima (R), Allen and Rhode Gear. These racks are available in different styles, some of which mount to the roof of an automobile, while others strap to the rear of the vehicle generally resting on or immediately above the rear bumper. The latter style offers the advantages of being generally lighter in weight and easier to install and remove from the vehicle than the former. A disadvantage of both types of racks, however, is that they tend to be bulky and cumbersome to store when not in use. Although the racks may be collapsed or disassembled for storage, such procedures are generally time consuming and require reassembly prior to subsequent use. As a result, bike owners will seldom disassemble or collapse their racks for storage, thereby requiring a relatively large amount of storage space. This storage problem is exacerbated by the fact that bicycles themselves are quite bulky and require a relatively large amount of storage space when not in use, space which may be at a premium, particularly for apartment or condominium dwellers.